Early on Monday, the UK Times releases a report quoting the Bank of England’s (BOE) Executive Direction for Financial Stability, Strategy, and Risk, Alex Brazier, while he says that the central bank has already properly prepared lenders for the shock of Brexit. This could have poured cold water on the face of all those who were expecting a political influence over the BOE after the present Governor Mark Carney retires in January 2020.
Key quotes
“The imminent change of Governor will not derail the Bank of England.”
“Whoever takes over from Mark Carney will put aside any personal politics they may have.”
FX implications
Even if the GBP/USD pair shows no reaction to the news while taking rounds to 1.2278, the news is showing preparedness on the part of the BOE and can be considered as positive for the British Pound (GBP).
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